Analysis of structural changes in the economy of the regions of the Russia's European North

The search for new factors for the economic growth intensification has led the scientific community to study its structural dynamics, including in the regional economy. The purpose of the work is to assess structural changes in the sectoral proportions of the gross value added formation in the economy of the regions of the Russia’s European North at different phases of economic dynamics. The assessment methodology is based on an approach that takes into account the calculation of indicators such as the size, speed and intensity of structural changes. The research identifies five intervals of multidirectional economic dynamics within which changes in the industry proportions of gross value added were tracked. The author reveals that the crisis of 2008-2009 reduced the share of export-oriented extractive and manufacturing industries which resulted in a change in the added value formation toward the service sector. The researcher determines that the impact of the recession in 2013-2014 is less noticeable and reversed in its direction: the contraction of the service sector and an increase in the share of the material production sector in the structure of gross value added. The main results of the structural adjustment of the economy after the 2013-2014 crisis occurred during the recovery period. As measures to manage the structural transformation of the regional economy, the article proposed to complicate the existing sectoral structure of the European North regions by lengthening the existing value chains in the territory of the macroregion, measures of structural and investment policy, as well as improving the efficiency of agricultural support. The scientific novelty of the work is to identify the key trends of structural changes in the regional economy at different stages of economic dynamics. Further research will focus on the structure of investment in fixed assets and forecasting the results of managing the structural adjustment of the economy.